Recent Statistics Show Longer Market Times For North Shore Homes? Are They Over Priced?

Our usually vibrant and high demand North Shore real estate market has hit a snag, as single family homes are accumulating longer than normal market times.

Is the reason higher interest rates, lack of home buyer interest, or something else?

Looks Like It's Something Else! Below are North Shore Market Statistics for properties currently Active.

Single Family Homes

# Currently Active   1,109

Avg. Listed Price     $1,450,062.00

Avg Market Time     179 Days

SOLD Data

In the past 12 months 3,032 North Shore homes have sold. These homes had an Average Market Time of 102 days. The Average Sale Price to Original List Price was 92%. 

**Data from Market Statistic Report MRED MLS. On 4/28/2014

Homes don't sell for many factors, usually the reason is overpricing!

Selling your home in today's market is complicated. In order for a home to find the right buyer, a buyer needs to understand the home's VALUE. Sometimes your home needs to be re-positioned to show off this value so home buyers buy the value, not the price.

If your home is listed on the market for sale with a real estate brokerage company, this is not a solicitation to list your home. We suggest you talk to your Broker to find out why your home is not selling!

Michael P. Zakin is the Principal of G3C1 & Company and has been active in the real estate industry for 3 decades.

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Always available to answer questions 847-457-1339